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Kenya and The Gambia: going offshore

by Financial Times
Published by : Financial Times, (London: ) Physical details: 2p. Year: 2014
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The article talks of financial transparency having been top of the global policy agenda as developed nations make plans to clamp down on tax havens. But however as those efforts gather momentum, Kenya and The Gambia are making ill-timed attempts to establish their own offshore financial centres. Gambia launched an offshore/onshore business jurisdiction, which allows potentially secretive companies to incorporate online in less than 30 seconds through a state-of-the-art portal called the iCommerce Registry. Across the continent, Kenya is also targeting offshore developments – in this case with help from the UK. The Kenyan government have explicitly stated that they would follow the model used by Ireland, am move described as an intention to set up a tax haven .

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